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Klabjan, Diego; Olszewski, Wojciech; Wolinsky, Asher - In: Games and Economic Behavior 88 (2014) C, pp. 190-206
A decision maker (DM) considers the acquisition of a multi-attribute object with uncertain qualities which can be discovered at a cost. DM's problem is to decide how much to invest in the discovery and whether to adopt or discard based on partial information. We characterize the solution in some...
Persistent link: https://www.econbiz.de/10011117130
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Biodiversity Prospecting Over Time and Under Uncertainty: A Theory of Sorts
Batabyal, Amit; Nijkamp, Peter - European Regional Science Association - 2014
decide whether to search for a new wild organism with a certain quality or to produce the drug in question with an extant …
Persistent link: https://www.econbiz.de/10011076046
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How to take an exam if you must: Decision under Deadline
Huynh, Hsueh-Ling; Majumdar, Sumon - Economics Department, Queen's University - 2006
This paper uses the example of an exam to model multi-dimensional search under a deadline. When the dimension is two …, an order-invariance property allows simple characterization of the optimal search policy. Behavior is shown to be highly …; this increases complexity of the problem of finding the optimal search policy. …
Persistent link: https://www.econbiz.de/10005688286
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Optimal Earnings-Related Unemployment Benefits
Taslimi, Mohammad - Nationalekonomiska Institutionen, Uppsala Universitet - 2003
decrease as the level of earnings rises. The framework is a search equilibrium model where wages are determined by Nash … bargaining between firms and workers, job search intensity is endogenous and workers are heterogeneous. The analysis suggests …
Persistent link: https://www.econbiz.de/10005771037
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Optimal Earnings-Related Unemployment Benefits
Taslimi, Mohammad - 2003
decrease as the level of earnings rises. The framework is a search equilibrium model where wages are determined by Nash … bargaining between firms and workers, job search intensity is endogenous and workers are heterogeneous. The analysis suggests …
Persistent link: https://www.econbiz.de/10010321580
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Biodiversity prospecting over time and under uncertainty : a theory of sorts
Batabyal, Amitrajeet A.; Nijkamp, Peter - 2013
decide whether to search for a new wild organism with a certain quality or to produce the drug in question with an extant …
Persistent link: https://www.econbiz.de/10010224811
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Biodiversity prospecting over time and under uncertainty : a theory of sorts
Batabyal, Amitrajeet A.; Nijkamp, Peter - 2014
decide whether to search for a new wild organism with a certain quality or to produce the drug in question with an extant …
Persistent link: https://www.econbiz.de/10011491961
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Reconsidering the common ratio effect: The roles of compound independence, reduction, and coalescing
Schmidt, Ulrich; Seidl, Christian - 2014
effect. Relying on a simple experiment, we investigate which failure of these axioms is concomitant with the empirical …
Persistent link: https://www.econbiz.de/10010369276
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A theory of discrete choice with information costs
Cheremukhin, Anton; Popova, Anna; Tutino, Antonella - In: Journal of Economic Behavior & Organization 113 (2015) C, pp. 34-50
We present a theory of discrete choice with information costs that supports deliberate stochastic choice. We use a unique experimental dataset to distinguish between errors arising from limitations on a decision maker's cognitive abilities and conscious disregard of information. Experimental...
Persistent link: https://www.econbiz.de/10011263911
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Reconsidering the common ratio effect: The roles of compound independence, reduction, and coalescing
Schmidt, Ulrich; Seidl, Christian - Institut für Weltwirtschaft (IfW) - 2014
effect. Relying on a simple experiment, we investigate which failure of these axioms is concomitant with the empirical …
Persistent link: https://www.econbiz.de/10010886877